Amadeus IT Group Price Target Up as Bernstein Notes Recent Contract Wins; Outperform Rating Kept

04:41 AM EDT, 08/11/2026 (MT Newswires) -- Bernstein raised its price target for Amadeus IT Group (AMS.MC), highlighting recent major contract wins for the Spanish travel and tourism industry-focused software company's Air IT Solutions division. In a Monday research report focused on the global air tech industry, Bernstein noted a first-half Altéa win involving an unnamed major airline group with over 40 million annual passengers boarded points. Migration is expected in 2027. "We include the change in our numbers for both from Q4 2027, pending further clarity, and recognize this is merely an educated guess rather than confirmed data. Speaking of lion quarry, the win of famously independent and [global distribution system-phobic International Consolidated Airlines Group-owned (IAG.L, IAG.MC) British Airways] to Altéa [new distribution capability] represents a previously-unthinkable change for this airline's distribution strategy, and could herald further wins in airline efforts to win over [travel management companies] to NDC," Bernstein added. "We continue to view Amadeus as well positioned as the leader in Air IT, with Air Distribution, in our view, more of an ex-growth cash cow. We have increased our EPS forecasts and target price on Air IT wins and structural cost reduction," the note said. Against this backdrop, Bernstein raised its price target to 78 euros from 75 euros and maintained its outperform rating on the stock.